Question

what is meant by wealth in ordinary language and in economic language​

Answer 1

Explanation:

In the ordinary language, by 'wealth', we mean money, but in economics, wealth refers to those goods which satisfy human wants. ... We consider only those goods which are relatively scarce and have money value as wealth. We study about consumption, production, exchange and distribution of wealth.

Answer 2

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In the ordinary language, by "Wealth" we mean money, but in economics wealth refers to those goods which satisfy human wants. We consider only those goods which are relatively scarce and have money value as wealth. We study about consumption, production, exchange,and distribution of wealth.